FreightCar America (NASDAQ:RAIL) Stock Crosses Above 200 Day Moving Average – Time to Sell?

FreightCar America, Inc. (NASDAQ:RAIL)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.74 and traded as high as $10.67. FreightCar America shares last traded at $10.29, with a volume of 264,374 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of FreightCar America from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

FreightCar America Price Performance

The company has a market capitalization of $194.42 million, a PE ratio of -2.43 and a beta of 1.94. The company’s fifty day moving average is $11.60 and its 200-day moving average is $7.74.

Insider Activity at FreightCar America

In related news, Director Nigris Felan Jose De acquired 4,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $10.19 per share, with a total value of $40,760.00. Following the completion of the acquisition, the director now directly owns 73,147 shares of the company’s stock, valued at $745,367.93. This represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Meyer acquired 23,400 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were bought at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the completion of the acquisition, the director now directly owns 838,278 shares of the company’s stock, valued at approximately $9,003,105.72. The trade was a 2.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 28.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RAIL. Vanguard Group Inc. raised its position in shares of FreightCar America by 4.7% in the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after acquiring an additional 26,412 shares during the period. Dimensional Fund Advisors LP raised its position in shares of FreightCar America by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after purchasing an additional 5,880 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of FreightCar America by 43.4% during the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after purchasing an additional 35,387 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of FreightCar America during the 3rd quarter worth about $1,067,000. Finally, Quantbot Technologies LP acquired a new position in shares of FreightCar America during the 3rd quarter worth about $49,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.